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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Skeeter Bug who wrote (15287)	8/31/1998 8:35:00 AM
From: gizelle otero	Read Replies (1) \| Respond to of 164684

I believe China will not devalue their currency unless one of these two things happens: 1. Japan begins to close banks and "open books" for institutions in financial trouble. This would force more bad loans to South Korea to surface. South Korea would then restructure debt (technically default a la Russia) and devalue the Won. 2. China's growth begins to slow. They are like a shark that needs to keep swimming to survive. If their growth slows to say 5%, they will devalue like hell to stay ahead of the rest of Asia. Efforts to prop up Hong Kong will fail and this will hurt China even more. The bottom line is to dump all stocks that sell more than 20% of their goods overseas or sell "commodity" products like oil, paper, semiconductor chips, or anything else Asia can conceivable make cheaper (which is damned near anything!). Also, here's a comment from a friend in the industry about AMZN.... "Market sentiment has shifted to the bearish side," said David Wu, an analyst at ABN Amro in San Francisco. "When sentiment is down, people question the hype and the silly valuations" that critics say are typical of those stocks. Concerned about volatility, investors may be putting their money into companies with proven earnings records, Wu said. "The [Internet] industry is strong, but that doesn't mean the stocks aren't overpriced," he said.